2. Use your red packets to boost your finances

Giving red envelopes containing money to family and friends is
an ancient tradition at Lunar New Year. If you receive red packets,
make a plan to use the money well by setting some savings goals and
depositing the money into a savings account with a high interest
rate. Visit our page on savings accounts for tips on finding
the right account for you.

3. Teach your family new money tricks

It's important for kids to learn about money early in life.
During Lunar New Year celebrations, your children may receive money
from friends or relatives, so why not take this opportunity to teach
them about managing money. Sit down with them and explain the
basics, such as the importance of having a budget, saving money and
paying off any debts.

4. Change your money habits

Making small changes to your everyday spending can help your
savings grow throughout the year. Try to find some new and fun ways
to save your money, such as:

Making your lunch at home, rather than buying it

Borrowing books and DVDs from the library

Avoiding using your credit card for a month and only paying
with cash

Recycling your clothing (e.g. cutting up old jeans to make
shorts) or buying clothes from a second-hand store

Sticking to a shopping list to avoid impulse buying at the
supermarket.

6. Be accountable to your money goals

Stay on the path towards good fortune during the Year of the Dog
by setting and tracking your progress towards your financial goals
with our two free and easy-to-use mobile apps.

The TrackMySPEND app allows you to record your
daily transactions and gives you a clear picture of how much you
are spending. This app makes being responsible with your money
simple and hassle-free.

7. Consider getting guidance for your financial future

Speaking to a financial adviser can be a
good way to understand your current financial situation, and plan
for the future. They can help review your finances and develop a
plan that will work for you.

Our financial advice toolkit makes
it easy to find and work with the right adviser to suit your needs.
The toolkit shows you how to prepare for your first meeting with
the adviser, what to expect from the meeting and what to do when
you receive financial advice. You can customise the tool with your
own details and create 'to do' lists for later.

8. Expand your investment knowledge

In this Year of the Dog, explore ways to grow your finances and
maximise your money for a prosperous future. Investing can be a
good way to do this. Our investor toolkit is a great place to
start getting the information you need to begin your investing
journey.

Start the Year of the Dog on the right foot by
learning some new tricks to help you take charge of your finances.
Happy Lunar New Year from ASIC's MoneySmart!